Global Sales Training Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Sales Training Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Sales Training market finds that the global Sales Training market reached a value of USD 5443.12 million in 2022. It’s expected that the market will achieve USD 7157.33 million by 2028, exhibiting a CAGR of 4.67% during the forecast period.

Decline in demand

Due to the impact of the epidemic, the number of unemployed people worldwide has increased, people's disposable income has decreased, and their purchasing power has declined. The epidemic has affected the cash flow of companies, and the demand for sales training has also declined. With the promulgation of the Stay at home order, many companies are unable to operate normally and cannot conduct sales training.

SME

The epidemic will have an impact on the cash flow of small and medium-sized enterprises in the industry and thus affect the operating conditions. As a result, the share of small and medium-sized enterprises in the market will shrink and the share of head enterprises will increase.

Micro-Learning is becoming more and more popular

Organizations are increasingly encouraging the implementation of micro-learning in corporate training programs and services to ensure effective learner participation. Micro-learning is real-time content provided in video and other multimedia forms, and employees can learn at their own speed.
Short-term micro-learning can improve employees' understanding of any specific concept, help to study reinforcement and knowledge retention. Micro-learning enables organizations to solve the time and resource constraints of corporate training. The compatibility of the micro-learning module across multiple platforms and digital networks has improved knowledge sharing and peer-to-peer connections between employees. In addition, the micro-learning courses can be easily accessed via mobile devices, enabling flexible learning and better accessibility. The fascinating evaluation in micro-learning allows managers to access training results in real time and plan subsequent training plans, thereby reducing training time.

High training costs

Higher training costs may affect the development of the global sales training industry market. Small businesses with weak financial strength cannot afford excessive training costs, thereby reducing the demand for sales training.

Technology innovation and development

Due to the steady growth of technology-enhanced training modules, the concepts of machine learning (ML) and artificial intelligence (AI) are gaining attention in the global sales training market. Companies are increasingly using this data to optimize sales processes and provide better training to sales staff and manufacturing and product design teams.
Due to the abundance of data in the market, artificial intelligence algorithms can easily identify customers' buying patterns and gain insight into the best sales methods that can be used to retain customers. In terms of sales training, AI can identify the learning patterns of employees, and through adaptive learning, it can create a personalized learning path for a personalized learning experience. This, in turn, helps the company's sales management, tailoring and adjusting the training content for each sales representative, thereby driving the level of motivation of employees, thereby obtaining a higher knowledge retention rate.
Large organizations are increasingly using analytical tools to improve the accuracy of Potential customers and the automation of pre-sales processes. Managers also choose analytics to track the progress of employees and provide learners with personalized learning paths, thereby increasing their productivity. Companies are increasingly using new technology to enhance their sales training programs.

Region Overview:

In 2022, the share of the Sales Training market in North America stood at 31.88%.

Company Overview:

Action Selling is one of the major players operating in the Sales Training market, holding a share of 1.63% in 2023.

Action Selling

For over 20 years, The Sales Board has trained salespeople around the world using Action Selling. This comprehensive training program is an effective, research-based system of learning and in-the-field application, which integrates smoothy into a wide variety of sales environments.

Baker Communications, Inc

Baker Communications has provided award-winning solutions for over 30 years to help companies maximize individual, team, and organizational performance to drive revenue growth and productivity.

Segmentation Overview:

As for product types, the Sales Skills Training segment held the largest market share in 2022.

Application Overview:

The market's largest segment by application is the segment IT Industry, with a market share of 34.35% in 2022.

Key Companies in the global Sales Training market covered in Chapter 3:

BTS
Carew International
Challenger
Kurlan & Associates
Aslan Training and Development
Miller Heiman Group
Sandler Training
Revenue Storm
Janek Performance Group
Action Selling
Mercuri International
Baker Communications, Inc
Integrity Solutions
IMPAX
The Brooks Group
DoubleDigit Sales
Corporate Visions
RAIN Group
Imparta
Quadmark

In Chapter 4 and Chapter 14.2, on the basis of types, the Sales Training market from 2018 to 2029 is primarily split into:

Sales Skills Training
Product Training
CRM Training
Sales Channel Management Training
Sales Team Building Training

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Sales Training market from 2018 to 2029 covers:

IT Industry
BFSI
Medical
Real Estate
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)